Magellan Immo: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Magellan Immo
Largest movements
- Tangible fixed assets +€284,072
up €284,072 (+11.2%), from €2.5m to €2.8m
of which Plant, machinery and equipment: +€341,077
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Debts after one year +€214,412
up €214,412 (+11.9%), from €1.8m to €2.0m
of which Financial debts: +€107,772
- Gross operating margin +€81,475
up €81,475 (+91.7%), from €88,814 to €170,289
- Depreciation +€17,191
up €17,191 (+14.8%), from €116,080 to €133,271
- Financial income -€9,437
down €9,437 (-95.6%), from €9,868 to €431
- Financial charges +€4,621
up €4,621 (+12.9%), from €35,764 to €40,385
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,633,546 | €2,862,927 | +€229,381 | +8.7% |
| Fixed assets | 21/28 | €2,559,152 | €2,843,224 | +€284,072 | +11.1% |
| Tangible fixed assets | 22/27 | €2,546,852 | €2,830,924 | +€284,072 | +11.2% |
| Land and buildings | 22 | €1,348,403 | €1,291,398 | -€57,005 | -4.2% |
| Plant, machinery and equipment | 23 | €1,198,449 | €1,539,526 | +€341,077 | +28.5% |
| Financial fixed assets | 28 | €12,300 | €12,300 | = | 0.0% |
| Current assets | 29/58 | €74,394 | €19,703 | -€54,691 | -73.5% |
| Amounts receivable within one year | 40/41 | €201 | €96 | -€104 | -52.1% |
| Trade receivables | 40 | €201 | - | -€201 | |
| Other amounts receivable | 41 | - | €96 | +€96 | |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €17,056 | €18,537 | +€1,480 | +8.7% |
| Deferred charges and accrued income | 490/1 | €7,137 | €1,070 | -€6,067 | -85.0% |
| Total equity and liabilities | 10/49 | €2,633,546 | €2,862,927 | +€229,381 | +8.7% |
| Equity | 10/15 | €659,974 | €638,686 | -€21,288 | -3.2% |
| Contributions | 10/11 | €976,800 | €976,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€316,826 | -€338,114 | -€21,288 | -6.7% |
| Amounts payable | 17/49 | €1,973,572 | €2,224,241 | +€250,669 | +12.7% |
| Amounts payable after more than one year | 17 | €1,797,488 | €2,011,900 | +€214,412 | +11.9% |
| Financial debts | 170/4 | €1,755,026 | €1,862,798 | +€107,772 | +6.1% |
| Other amounts payable | 178/9 | €42,462 | €149,102 | +€106,640 | +251.1% |
| Amounts payable within one year | 42/48 | €172,931 | €204,931 | +€32,000 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €88,763 | €97,547 | +€8,784 | +9.9% |
| Trade debts | 44 | €73,294 | €92,510 | +€19,216 | +26.2% |
| Suppliers | 440/4 | €73,294 | €92,510 | +€19,216 | +26.2% |
| Other amounts payable | 47/48 | €10,874 | €14,874 | +€4,000 | +36.8% |
| Accrued charges and deferred income | 492/3 | €3,153 | €7,410 | +€4,257 | +135.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,080 | €133,271 | +€17,191 | +14.8% |
| Other operating charges | 640/8 | €17,805 | €18,352 | +€548 | +3.1% |
| Gross operating margin | 9900 | €88,814 | €170,289 | +€81,475 | +91.7% |
| Operating profit (loss) | 9901 | -€45,070 | €18,666 | +€63,737 | |
| Financial income | 75/76B | €9,868 | €431 | -€9,437 | -95.6% |
| Recurring financial income | 75 | €9,868 | €431 | -€9,437 | -95.6% |
| Financial charges | 65/66B | €35,764 | €40,385 | +€4,621 | +12.9% |
| Recurring financial charges | 65 | €35,764 | €40,385 | +€4,621 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | -€70,966 | -€21,288 | +€49,678 | +70.0% |
| Income taxes | 67/77 | €13 | - | -€13 | |
| Profit (loss) for the period | 9904 | -€70,979 | -€21,288 | +€49,691 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,979 | -€21,288 | +€49,691 | +70.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.